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business analytics data

Questions and Answers of Business Analytics Data

20. Construct frequency distributions and histograms using the Excel Histogram tool for the Gross Sales and Gross Profit data in the Excel file Sales Data.
19. Use the Histogram tool to develop a frequency distribution and histogram for the number of months as a customer of the bank in the Excel file Credit Risk Data.Compute the relative and cumulative
18. Use the Histogram tool to develop a frequency distribution and histogram for the age of individuals in the Excel file Credit Risk Data. Compute the relative and cumulative relative frequencies
17. Construct frequency distributions and histograms for the numerical data in the Excel file Cell Phone Survey. Also, compute the relative frequencies and cumulative relative frequencies.
16. A community health-status survey obtained the following demographic information from the respondents:Age Frequency 18 to 29 297 30 to 45 661 46 to 64 634 65 369 Compute the relative frequency
15. Use the Histogram tool to construct a frequency distribution of sales amounts in the Sales Transactions database.
14. Use the COUNTIF function to construct a frequency distribution of the types of loans in the Excel file Credit Risk Data and develop a column chart to express the results visually.
13. The Excel file Credit Risk Data provides information about bank customers who had applied for loans.5 The data include the purpose of the loan, checking and savings account balances, number of
12. In the Sales Transactions database, use Excel’s filtering capability to extract all orders that used PayPal, all orders over $100, and all orders that were over $100 and used a credit card.
11. Use Excel’s filtering capability to extract all orders for control panels and all orders for quantities of less than 500 units in the Purchase Orders database.
10. In the Purchase Orders database, conduct a Pareto analysis of the Cost per order data. What conclusions can you reach?
9. Sort the data in the Excel file Automobile Quality from lowest to highest number of problems per 100 vehicles using the sort capability in Excel.
8. Construct an appropriate chart to show the proportion of funds in each investment category in the Excel file Retirement Portfolio.
7. The Excel file Internet Usage provides data about users of the Internet. Construct appropriate charts that will allow you to compare any differences due to age or educational attainment and draw
6. Construct a column chart for the data in the Excel file State Unemployment Rates to allow comparison of the June rate with the historical highs and lows. Would any other charts be better to
5. Create a bubble chart for the first five colleges in the Excel file Colleges and Universities for which the x-axis is the Top 10% HS, y-axis is Acceptance Rate, and bubbles represent the
4. A national homebuilder builds single-family homes and condominium-style townhouses. The Excel file House Sales provides information on the selling price, lot cost, type of home, and region of the
3. The Excel file Facebook Survey provides data gathered from a sample of college students. Create a scatter diagram showing the relationship between Hours online/week and Friends.
2. Create a pie chart showing the breakdown of occupations in the Science and Engineering Jobs Excel file.
1. Create line charts for the closing prices in the Excel file S&P 500.
• Construct a cross-tabulation (contingency table).
12. MasterTech is a new software company that develops and markets productivity software for municipal government applications. In developing their income statement, the following formulas are
11. Develop a spreadsheet model to determine how much a person or a couple can afford to spend on a house.8 Lender guidelines suggest that the allowable monthly housing expenditure should be no more
10. Develop a spreadsheet model for Problem 13 in Chapter 1. Apply the principles of spreadsheet engineering in developing your model. Use the spreadsheet to create a table for a range of prices to
9. Develop a spreadsheet model for Problem 12 in Chapter 1, using the data provided.Apply the principles of spreadsheet engineering in developing your model.
8. Example 1.5 in Chapter 1 provided data from an experiment to identify the relationship between sales and pricing, coupon, and advertising strategies. Enter the data into a spreadsheet and
7. Example 1.4 in Chapter 1 described a scenario for new product sales that can be characterized by a formula called a Gompertz curve: S = aebect. Develop a spreadsheet for calculating sales using
6. A pharmaceutical manufacturer has projected net profits for a new drug that is being released to the market over the next five years:Year Net Profit 1 $(675,000,000)2 $(445,000,000)3
5. A manager needs to identify some information from the Purchase Orders Excel file but has only the order number. Modify the Excel file to use the VLOOKUP function to find the item description and
4. The Excel file Credit Risk Data provides information about 425 bank customers who had applied for loans. The data include the purpose of the loan, checking and savings account balances, number of
3. The Excel file President’s Inn Guest Database provides a list of customers, rooms they occupied, arrival and departure dates, number of occupants, and daily rate for a small bed-and-breakfast
2. The Excel file Store and Regional Sales Database provides sales data for computers and peripherals showing the store identification number, sales region, item number, item description, unit price,
1. The Excel file Science and Engineering Jobs shows the number of jobs in thousands in the year 2000 and projections for 2010 from a government study. Use the Excel file to compute the projected
• Use Excel features and spreadsheet engineering to ensure the quality of your spreadsheets.
• Use basic and advanced Excel functions.
• Use Excel features such as split screen, paste special, show formulas, and displaying grid lines and headers in your applications.
• Copy formulas from one cell to another or to a range of cells.
• Apply relative and absolute addressing in Excel formulas.
• Write correct formulas in an Excel worksheet.
• Find buttons and menus in the Excel 2010 ribbon.
14. The demand for airline travel is quite sensitive to price. Typically, there is an inverse relationship between demand and price; when price decreases, demand increases and vice versa. One major
13. A manufacturer of mp3 players is preparing to set the price on a new model.Demand is thought to depend on the price and is represented by the model D 2,000 3P The accounting department
12. Automobiles have different fuel economies (mpg), and commuters drive different distances to work or school. Suppose that a state Department of Transportation(DOT) is interested in measuring the
11. Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. Let the variable x represent total
10. Return on investment (ROI) is computed in the following manner: ROI is equal to turnover multiplied by earnings as a percent of sales. Turnover is sales divided by total investment.Total
9. Suppose that a manufacturer can produce a part for $9.00 with a fixed cost of$4,000. The manufacturer can contract with a supplier in Asia to purchase the part at a cost of $12.00, which includes
8. Four key marketing decision variables are price (P), advertising (A), transportation(T), and product quality (Q). Consumer demand (D) is influenced by these variables. The simplest model for
7. A bank developed a model for predicting the average checking and savings account balance as balance 17,732 367 age 1300 years education 0.116 household wealth.a. Explain how to
6. A survey handed out to individuals at a major shopping mall in a small Florida city in July asked the following:• gender• age• ethnicity• length of residency• overall satisfaction with
5. Identify each of the variables in the Excel file Credit Approval Decisions as categorical, ordinal, interval, or ratio.
4. Classify each of the data elements in the Sales Transactions database (Figure 1.1)as categorical, ordinal, interval, or ratio data.
3. Suggest some metrics that a manager of a fast-food restaurant, such as McDonald’s or Chipotle, might want to collect. Describe how the manager might use the data to facilitate better decisions.
2. Suggest some metrics that a hotel might want to collect about their guests. How might these metrics be used with business analytics to support decisions at the hotel?
1. A supermarket has been experiencing long lines during peak periods of the day.The problem is noticeably worse on certain days of the week, and the peak periods sometimes differ according to the
• List and explain the steps in the problem-solving process.
• Explain the difference between a deterministic and stochastic decision model.
• Define the terms optimization, objective function, and optimal solution.
• Explain the difference between uncertainty and risk.
• Use predictive models to compute model outputs.
• Use influence diagrams to build simple mathematical models.
• Define and provide an example of an influence diagram.
• Define and list the elements of a decision model.
• Explain the concept of a model and various ways a model can be characterized.
• Describe the four groups of data classification, categorical, ordinal, interval, and ratio, and provide examples of each.
• Explain the difference between a discrete metric and continuous metric, and provide examples of each.
• Define a metric and explain the concepts of measurement and measures.
• Explain the difference between a data set and a database.
• State examples of how data are used in business.
• Explain and provide examples of descriptive, predictive, and prescriptive analytics.
• Summarize the evolution of business analytics and explain the concepts of business intelligence, operations research and management science, and decision support systems.
• State some typical examples of business applications in which analytics would be beneficial.
• Explain why analytics is important in today’s business environment.
The following table displays the possible payoffs from a particular investment and the indifference probabilities for an investor.a. Assume that the lowest payoff is assigned a utility of 0 and that
Refer to Problem 24.Find the second-best solution. How does it compare to the optimal solution found in Problem 24? Why might the second-best solution be preferred?Problem 24In this problem, we
King City Inc. manufactures machine tools. The production planner who oversees the production of two of King City’s machines needs to determine how many of each to produce this month. The two
Discuss the current state of data legislation in your country and the world. Which countries have most recently created legislature to protect employees specifically?How do you expect that to impact
Provide two examples (not necessarily at work or in HR) where algorithms have replaced human decision-making. Choose one you think has benefitted society and one which has caused challenges. Discuss
Discuss a time when bias went unnoticed in the creation of a new process, assessment, or data model. Why was it missed? How was the bias discovered and remedied?
Think of a time when a change at a job did more harm than good. Explain what happened, and why the negative impact was missed.
Think of a time when an assessment or model did not measure what it was supposed to or did not measure it well. What happened? Why did the measurement miss the mark? What were some of the
Define the construct chasm. Provide three examples of HR metrics which have large construct chasms and discuss how you might bridge the gap to measure them well.
Choose the three model maintenance techniques you think are the most important.Why did you choose them?
Choose three of the most important considerations during model deployment.Why are these more important than other considerations?
Explain the results review and how it is different from the business case.
How do feature engineering and data wrangling work together? Why is this relationship so important?
Explain the structure and importance of the Business Loop, the Data Loop, and the Tuning Loop.
What are some advantages of binning, lagging, and z-scores? Provide an example of when you might use each.
Choose two different data types and enumerate the advantages and challenges of each.
Name four different types of HR data systems. Explain how data is typically structured for that type of system.
What is the difference between validity and reliability? Create two examples of how each might manifest as a challenge in HR data.
Why is data quality a challenge with HR data? What are some ways to combat this challenge and what are the associated risks?
What are the three major ways an analytics project provides value to a stakeholder?Create an example for each.
What are the eight attributes necessary to frame the project? Why is each important?
Discuss what you think are the two most critical aspects of understanding the business and the two most critical aspects of understanding the data. How are they similar and how are they different?
Name and define the three A's of a machine learning projects and the two categories within each.
What Makes Machine Learning Projects Unique in HR
Name one benefit and one weakness of both Waterfall and Agile approaches to project management and how they apply to machine learning projects.
Explain the triple constraint. Why is it so important?
Create two examples of machine learning projects: (1) where project management is necessary and (2) where project management is not necessary. Explain what the differences in the projects are and why
Which of the attributes which make machine learning project unique is most impactful in HR? Why?

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